Filmmaker George Lucas, the creative force behind “Star Wars,” has added a new asset to his family office, Skywalker Holdings. Skywalker Holdings recently acquired a 155,000 square foot site at 1600 Naud St. in the city’s Chinatown neighborhood for a sum of $45.5 million, or about $293 per square foot, The Real Deal reported. The seller in the transaction was Santa Monica-based Redcar Properties.
The purchased property was initially slated for redevelopment. Redcar had planned to demolish the existing cold storage warehouse and ancillary structures, making way for a 147,000 square foot office development featuring restaurant and retail spaces. However, the plans were withdrawn by Redcar last month.
The future use of the newly acquired property by Skywalker Holdings remains uncertain. It is unclear whether the family office will pursue new development plans or retain the site as a cold storage and industrial facility.
Skywalker Holdings already boasts an impressive real estate portfolio, with its flagship property being the 4,700-acre Skywalker Ranch in Marin County, situated approximately 40 minutes north of San Francisco. The ranch features a working farm with Wagyu cattle, a winery and a movie studio. Additionally, the family office owns vineyards in France, further diversifying its global real estate holdings.
Redcar Properties is an investor of urban commercial real estate assets in Los Angeles, according to its website. The firm specializes in acquiring and redeveloping under performing properties.
